INDIANAPOLIS (AP) — Cigna Corp.'s first-quarter net income jumped 52 percent as medical claims fell, the international business grew again, and it raised its 2011 profit forecast like other big health insurers that also beat expectations for the quarter.
The Philadelphia company said Thursday earnings in health care, its largest segment, climbed 47 percent, and premiums and fees from its international business rose 32 percent, fueled in part by the purchase of the Belgian company Vanbreda International last year.
Cigna earned $429 million, or $1.57 per share, in the three months that ended March 31. That's up from the $283 million, or $1.02 per share, last year. Revenue climbed 4 percent to $5.41 billion from $5.21 billion.
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